Formal Governance

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Thank you all for joining the weekly meeting. We have 13 participants on the call today.

This part of the meeting will be recorded and will serve as the formal record of the community consensus. Agenda items should be posted to forum.makerdao.com or in #meeting-agenda on Rocket Chat

Upon conclusion of the formal portion of the meeting, further topics will be discussed and debated.

On Record:

Dev Update:

Maker Core (DRI: rain/mbrock/dbrock):

• No update, focus is on sai / maker-model
• Discuss designating 0x0 as burn address (one-time delete during migration, no token semantics changes)
• Concept: how to properly implement a “reserve” to assist MKR backstop
  • Completely distinct from CDP engine (“userland” dapp)
  • No outside control
  • No price feeds or auctions

Oasis (DRI: Geronimo):

• Moved oasis-pro to oasisdex.com, no pro/lite version anymore

Maker Model (DRI: mbrock ):

• Simple vow model nearly done
• Refactored how tokens and balances are modelled, now simpler and easier to verify
• Came up with a nice and straightforward way to implement a “testbench” for the system model
  • Based on CLI JSON program; next week want to make a simple web UI for exploring / learning the Dai mechanics

Simple Stable Coin (DRI: Nikolai):

• Refined settlement logic (cage)
• Working deployment to Kovan
• Functional command line interface
• Already getting feedback to dai design, e.g. debt ceilings

Video (DRI: kenny):

• POW has finished the second video. Link available upon request

Foundation Update:

MKR Sale update (DRI: rune + zandy):

• MKR Sale update (DRI: rune + zandy)
  • Rune sold: 350 MKR for 351 ETH
  • Zandy sold 82 MKR for 89 ETH

General Topics:

Topics discussed here are not binding and should not be taken out of context of an open discussion. More is said during the general topics than what can be faithfully transcribed into written text

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